12 Nov 2018 10:00
Fishing Republic plc
("Fishing Republic" or "the Company" or "the Group")
Company Update
Fishing Republic announces that, further to the notification by the Company on 16 October 2018, the Directors have been working with the Company's professional advisers to asses a number of options for the future of the Group. There does, however, remain a material uncertainty regarding the Group's financial position, and the Group continues to trade only with the short-term support of key creditors.
The Company is currently seeking to raise equity finance to fund its immediate and future working capital requirements. If the Company fails to raise sufficient equity finance and no other funding becomes available, then there will be a significant doubt as to the Group's ability to continue to trade as a going concern.
A further announcement will be made in due course and by the end of November.
The Company's shares remain suspended from trading on AIM.
Enquiries:
Fishing Republic plc James Newman, Executive Chairman | T: 020 3178 6378 (today)
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KTZ Communications Limited | T: 020 3178 6378 | |
Katie Tzouliadis, Emma Pearson | ||
Northland Capital Partners Limited | T: 020 3861 6625 | |
Nominated Adviser and Broker | ||
Matthew Johnson, Jamie Spotswood, David Hignell (Corporate Finance) | ||
Abigail Wayne, Rob Rees (Corporate Broking) | ||